Wednesday, May 3, 2017

Job done

Adam Crozier, 54, will leave ITV plc in June, for a portfolio career. He already has one non-exec role, with Whitbread.

He started as ITV CEO in 2010; in the preceding year, the company's EBITA (earnings before interest, taxes, and amortization) excluding exceptional items stood at £202m. This year's figure - £885m. Non-advertising revenue stands at 53% of the company total, from 31% when he arrived. In terms of audience share, the BBC portfolio of channels has slipped down from 33.2% to 32% over the Crozier period, whilst the ITV group has moved from 26.9% to 21.4%.

Mr Crozier's earnings at ITV...

2011 £2.1m
2012 £2.9m
2013 £8.4m
2014 £4.8m
2015 £3.9m
2016 £3.4m

In March last year, Adam sold close to £2m of ITV shares at 240.90p. In March this year, he sold £580k's worth. He still holds 1.9m shares - worth £3.95m at this morning's 208p a share.

We're told the hunt for a replacement is underway, with Chairman Sir Peter Bazalgette taking the CEO's role in the interim.